RE:RE:Risk of ownership
That is exactly my point Mr. Lafortune. You can run the numbers for Tamarack and come up with about the same as CNQ.
What is Kelt? Look at this statement "As the Company transitions from exploration and resource delineation to development and multi-well pad drilling". Kelt used to market themselves as a exploration and delineation company. They would explore, delinate, and then sale assets. Now it is a "development" company?
If it is now a develpment company, then there are lot's better development companies to choose from. Companies that are returning value to shareholders on a regular basis, and control their infrastructure.
Management owns so much stock there will be no activists moving to try and shake things up on the BOD. Management dilutes the equity every year with significant options to management. The truth is they do not care about there shareholders, they don't need them. Meanwhile your money sits here dead, and in practical terms is being eroded by inflation every year. Forget about the BS fake government inflation numbers, in the real world we have lost 30% of our purchasing power over the last 3 years.
As an investor what is your strategy here? Wait for a company sale, that is no strategy. What is the companies strategy, growing reserves? The market isn't paying for that. I have made so much money on other oil and gas names that even if Kelt sells out for double $12 bucks, I will have done better elsewhere.
like you say, what is this company? It is a mish mash of assets, that when you get into the details don't really all work together. The market considers it a poorly run gas company which is why when oil prices move up it gives Kelt little to no credit. Kelt hedges so poorly thay hedge gas when they shouldn't and don't hedge when they should. I could go on and on, but you get my point. Celtic was a good company. Kelt has been a disaster for a decade, cheers Matthew